1. Field of the Invention
The present invention generally relates to a method and system for generation of dynamic password, and more particularly relates to the method and system for generation of dynamic password from instructions applied on a base value, a static value, a variable value or any combination of some or all of these.
2. Description of Related Art
In today's world where a lot of interactions between different parties like people and computer systems are fact of life, one of the main concerns is how to identify each party. To be certain that they are who they are a common practice is to require one of the parties that acting in the client capacity to identify itself via sign in (authentication) process by providing its user id and associated password.
It is well known that a client determines a meaningful password, in the form of, for example, the name of their dog, the birth date of their child or an election year of the favorite candidate. This type of password is easily compromised with investigation. Conversely, a computer can randomly associate a password for a client, but this type of password is meaningless to the client and as such difficult to memorize. Consequently, the former method, which is simple, is insecure and the latter method, which is more secure, is difficult to use and often leads to a client writing their password next to their computer, thereby making the system insecure.
The problem with current sign in (authentication) and what makes hacking very possible is that credentials are static in nature (user id and password are set once and used many) and when supplied are transmitted between the client and authenticator. These make them vulnerable for interception for further malicious use.
To make it less vulnerable, the password that is part of transmission needs to be dynamic and of different value every time so even if intercepted will be of no use in the future. Currently there are available options for the dynamic password which are achieved by utilizing Secure ID token that changes every so often. This token is generated by either a physical device or software installed on a physical device like mobile phone or a computing device.
Therefore there is a need of a method and system for generating a common dynamic password independently by both server and client. Further, the generated password validates the client to operate through the server. Furthermore, the generated password depends upon the instructions applied on static value, base value, variable value or any combination of some or all of these.